In November, the Sisters residential real estate market continued its seasonal slowdown — at least in terms of Active listings. The number of Active Single Family Residential (SFR) listings was down from 85 in October to 79 in November, while the number of Active Residential with Acreage (RW) listings was down from 86 in October to 76 in November.
Sales, on the other hand, were a different story — they actually increased in November (up from 17 Closed sales in October to 21 Closed sales in November). And they were up significantly compared to this time last year, when there were 13 Closed sales. Pending sales were up, too, with 14 Pending sales in November compared to 11 in October.
All but two of the Closed sales were below $500,000 — with the bulk of the sales falling between $200,000 and $350,000 (14 of the 21 sales). Pending sales were also focused primarily on the lower price points — just two of the 14 Pending sales were for properties listed above $500,000 and eight of the 14 Pending sales were for properties listed between $200,000 and $350,000.
With sales on the upswing and Active listings taking a downturn, the overall supply of homes for sale in Sisters decreased noticeably in November: There was a 7.3-month supply of SFR listings in November, compared to a 9.3-month supply in October, and a 10.5-month supply of RW listings in November, compared to a 11.7-month supply in October.
Here are some highlights of the Sisters real estate market in November, based on data provided by MLSCO on Dec. 10, 2014:
LISTING ACTIVITY
Active Residential Listings in Sisters: 155 (79 Single Family Residences; 76
Residential with Acreage)
Contingent Residential Sales in Sisters: 0
Pending Residential Sales in Sisters: 14 (6 SFR; 8 RW)
Residential Sales in Sisters: 21 (14 SFR; 7 RW)
Average Days on Market: 225 days for Active SFR listings
189 days for Active RW listings
175 days for the SFR listings sold in November
181 days for the RW listings sold in November
Median Sales Price: $399,900 for Active SFR listings
$759,900 for Active RW listings
$317,200 for the SFR listings sold in November
$275,000 for the RW listings sold in November
INVENTORY
Single Family Residence: 7.3-month supply (130 sales in the previous 12 months)
Residential with Acreage: 10.5-month supply (87 sales in the previous 12 months)
SALES PRICE
Least-Expensive Single Family Residence Active Listing: $177,900
Least-Expensive Residential with Acreage Active Listing: $125,000
Most-Expensive Single Family Residence Active Listing: $1,389,000
Most-Expensive Residential with Acreage Active Listing: $2,900,000
Price Point with the Most Active Listings: SFR $350,000-$399,999 (18 listings)
RW: $1,000,000-$1,249,999 & $1,250,000-$1,499,999 (eight listings each)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the November Sisters real estate market in detail.
Thinking of making a move to Sisters? I’d love to help you find the perfect Central Oregon property. You can reach me by phone or text at (541) 480-0987 or by email.
About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.